Terms of Business

TERMS OF BUSINESS AGREEMENT (TOBA)

This TOBA sets out our terms and conditions and is effective once it is received by you. It will remain in force until we issue a revised version. We request that you read this TOBA carefully, in conjunction with our correspondence, so you understand the basis of our services and charges.

Material Information we will need from you

We will ask you a series of questions to establish your demands and needs and it is important that you answer each and every question and provide us with full information. If you are unsure of a question, or are uncertain as to whether you must tell us certain information, please ask the handler to explain what is needed to you. Your answers will form the basis of the insurance contract we arrange for you. It is important that we obtain full details from you in order to prevent an Insurer requiring additional premium or declining your claim.

Our quotation to you

We will seek quotations from a range of Insurers. Certain products may be offered on behalf of a limited range of Insurers and where this applies, we will provide you with the names of the Insurers, if you request them. Other products may be offered on behalf of a single provider who will be named on correspondence and on your documents. Once we have all the relevant information, we will advise you and make a recommendation which is based on your demands and needs and the answers provided by you. All premiums quoted are subject to the current rate of Insurance Premium Tax (ipt) as defined by HM Government.

Evidence of No Claims Bonus

Your insurance will be arranged on the basis of any No Claims Bonus which you have advised us has been earned by you on a previous policy; and which will be used on the insurance we have arranged for you. Insurers will issue at the premium net of the bonus earned; but will require evidence of bonus from your previous Insurer. If evidence of No Claims Bonus is not received within the required period, they will revert to the gross premium and you will be required to pay the difference.

Premium received from you

Premium received from you will be held by us as client money and the account is designated as per the relevant regulatory rules. We pass premium received from you to the insurer when requested. We earn a commission for arranging your insurance and this goes towards our administration costs.

Fees and Charges

We may include an administration fee or charge in relation to transactions arranged for you. You will be advised of the amount we charge at each transaction verbally, in writing or both. In addition, we will make a charge of £10 in relation to duplicate documentation and £25 in the event of a default in payment.

If you chose to pay with certain credit cards, the provider charges us for your payment method. This charge may be passed on to you but you will be advised at the time.

Finance and Credit checks

In the event that your insurance has been arranged on finance, we will advise you of the name of the finance provider, the initial amount required by the Insurance Company and the additional premium you will be required to pay if you select to pay on premium finance. We will also advise you of the amounts you will be required to pay and when; and you should be aware that certain Insurers and Finance providers may carry out credit checks when arranging your insurance. Please read the information provided by your finance provider carefully, including the cancellation arrangements, in conjunction with our Terms of Business Agreement and your Insurers information. We receive income from the finance provider for arranging your insurance payments with them.

Cancellation

You have certain rights in relation to the cancellation of your insurance in the early stages, and these are set out in the Insurer’s documentation. Cancellation terms vary by Insurer and it is recommended that you read this section carefully, as cancellation refunds are not given after a claim, and are otherwise calculated on a short period scale weighted in favour of the insurer.

Cancellation during and after the “cooling off” period is explained in your policy wording.

Tacit Renewal

In the event that your renewal is paid by insurer instalments, we will notify you prior to the renewal date of the premium and terms and conditions that will apply. Unless we hear from you on or prior to renewal date, your policy will be renewed and payments will continue to be taken from your account.

Complaints Procedure

Should you have cause to complain, please telephone or write to the Office Manager, in order that the matter may be resolved to your satisfaction. We will write to you to advise you of the person who will investigate your complaint and we will thereafter communicate with you at regular intervals to keep you informed. You will be provided with a copy of our complaints procedure which sets out the process and timescales for handling your complaint. If your complaint is not resolved to your satisfaction, you may refer to the Financial Ombudsman Service, details of whom are available on their website and we will provide you with contact details.

Consumer vulnerability

As a regulated firm we are required to make the necessary enquiries to ensure that you are able to meet any payments to the Insurer, finance provider and our administration fee or charges. We are also required to have in place systems and controls and disclosure information which ensures that you are receiving the product which best suits your demands and needs and have received a full explanation of each product before you proceed with your purchase. If you require additional information or explanation, we ask that you request this when seeking a quotation and / or when purchasing an insurance product from us.

Financial Services Compensation Scheme (FSCS)

We are covered by the FSCS. You may be entitled to compensation from the scheme if we cannot meet our obligations. This depends on the type of business and the circumstances of the claim. Full information is available on the FSCS site www.fscs.org.uk

Financial Crime

Please be aware that current UK money laundering regulations require us to obtain adequate ‘Know Your Client’ information about you. We are also required to cross check you against the HM Financial Sanctions List as part of the information gathering process. We are obliged to report to the National Crime Agency any evidence or suspicion of financial crime at the first opportunity and we are prohibited from disclosing any such report. We will not permit our employees or other persons engaged by them to be either influenced or influence others in respect of undue payments or privileges from or to insurers or clients.

Confidentiality and Data Protection

We will treat all customers’ information in a confidential manner and will ask you a set of questions to ensure that we are speaking to the policyholder only. We are not authorised to speak to another person in relation to your insurance and will decline any request for information or to make alterations to your policy unless we have a legal mandate to do so. Your details will be held in compliance with the Data Protection rules. Details of any credit or debit card used in connection with the arrangement of your insurance will not be held by us on computer or file; and will not be passed to a third party.

Law This agreement shall be governed by the Laws of England, Wales and Scotland and the parties agree herewith that any dispute arising shall be subject to the (non) exclusive jurisdiction of the relevant Court.

Premier Insurance Intermediary Ltd is authorised and regulated by the Financial Conduct Authority under number 308421.

You can check this on the FCA website www.fca.gov.uk There is no holding between ourselves and any other Insurer.

About Premier Insurance

Premier Insurance is a family Insurance brokerage registered as a Premier Insurance Intermediary Limited with the Financial Conduct Authority (FCA) in United Kingdom. This can be checked by calling the FCA on 0207 0661000 or here.

Personal service

As a local independent broker we try our best to suit your needs. Whether that be personal insurance or commercial insurance we know local area better than most and are able to assist in a wide variety of ways. Call us today to discuss your requirements